Topic: You work your butt off, and a rich dude does nothing and gets rich - how? - page 14. (Read 23786 times)
June 04, 2014, 10:13:46 PM
Why are house prices so high? http://ozziecoin.com/?p=1514
June 03, 2014, 07:33:42 PM
Please read the first page jeffstern: https://bitcointalksearch.org/topic/you-work-your-butt-off-and-a-rich-dude-does-nothing-and-gets-rich-how-621654
The rich are getting richer.
The rich are getting richer.
They are indeed. They insulate themselves by buying influence from corrupt governments. Your average wage slave has no access to government and even legal fees make it tough to get anywhere with the court system as well.
June 03, 2014, 06:35:28 AM
Please read the first page jeffstern: https://bitcointalksearch.org/topic/you-work-your-butt-off-and-a-rich-dude-does-nothing-and-gets-rich-how-621654
The rich are getting richer.
The rich are getting richer.
June 03, 2014, 06:03:57 AM
If this is the case, it is smarter to be rich. 
Nevertheless, the statistics you are using are misinterpreted. Any rich person can be rich today and poor tomorrow. And it has become a lot easier to win and lose. Being rich at one time in your life doesn't guarantee you lifetime membership in the club of the rich. Actually, you start losing the day you feel nothing can harm your wealth. And immediately someone else takes the position.
Nevertheless, the statistics you are using are misinterpreted. Any rich person can be rich today and poor tomorrow. And it has become a lot easier to win and lose. Being rich at one time in your life doesn't guarantee you lifetime membership in the club of the rich. Actually, you start losing the day you feel nothing can harm your wealth. And immediately someone else takes the position.
June 03, 2014, 05:53:23 AM
That's right, the rich people are telling us WE MUST BE THANKFUL FOR BAILING THEM OUT!
It is always the few that rules the majority. Has it ever occur that a society that is ruled by the majority?
June 03, 2014, 05:30:46 AM
That's right, the rich people are telling us WE MUST BE THANKFUL FOR BAILING THEM OUT!
It is always the few that rules the majority. Has it ever occur that a society that is ruled by the majority?
June 02, 2014, 11:25:41 PM
That's right, the rich people are telling us WE MUST BE THANKFUL FOR BAILING THEM OUT!
June 02, 2014, 11:16:59 PM
People who are at bottom have little to lose.
Last financial crisis is a shark eats shark event.
And now the sharks have more than recovered but not so the little guy on the street. Last financial crisis is a shark eats shark event.
The sharks got their bailout so the rest of us can keep our crumbs. You would think we little people would be more thankful.
June 02, 2014, 11:06:50 PM
People who are at bottom have little to lose.
Last financial crisis is a shark eats shark event.
And now the sharks have more than recovered but not so the little guy on the street. Last financial crisis is a shark eats shark event.
June 02, 2014, 01:45:23 PM
People who are at bottom have little to lose.
Last financial crisis is a shark eats shark event.
Last financial crisis is a shark eats shark event.
June 02, 2014, 11:44:37 AM
More interesting data:
If we continue with FRB and QE, what do you think will happen to the top 10% versus the bottom 1%?!?
If we continued to INFLATE asset prices - why would the top 1% need to work at all?!? The answer is: they don't! They can sit on their assets and "manage". Wake up people! This is an absolute travesty and it's disgusting.
Quote
Distribution of Wealth Across Individuals: Inequality Remains High
To determine how global wealth is distributed across households and individuals – rather than regions or countries – we combine our data on the level of household wealth across countries with information on the pattern of wealth distribution within countries. Our estimates for mid-2013 indicate that once debts have been subtracted, an adult requires just 4,000 US dollars in assets to be in the wealthiest half of world citizens. However, a person needs at least 75,000 US dollars to be a member of the top 10 percent of global wealth holders, and 753,000 US dollars to belong to the top 1 percent. Taken together, the bottom half of the global population own less than 1 percent of total wealth. In sharp contrast, the richest 10 percent hold 86 percent of the world’s wealth, and the top 1 percent alone account for 46 percent of global assets.
To determine how global wealth is distributed across households and individuals – rather than regions or countries – we combine our data on the level of household wealth across countries with information on the pattern of wealth distribution within countries. Our estimates for mid-2013 indicate that once debts have been subtracted, an adult requires just 4,000 US dollars in assets to be in the wealthiest half of world citizens. However, a person needs at least 75,000 US dollars to be a member of the top 10 percent of global wealth holders, and 753,000 US dollars to belong to the top 1 percent. Taken together, the bottom half of the global population own less than 1 percent of total wealth. In sharp contrast, the richest 10 percent hold 86 percent of the world’s wealth, and the top 1 percent alone account for 46 percent of global assets.
If we continue with FRB and QE, what do you think will happen to the top 10% versus the bottom 1%?!?
If we continued to INFLATE asset prices - why would the top 1% need to work at all?!? The answer is: they don't! They can sit on their assets and "manage". Wake up people! This is an absolute travesty and it's disgusting.
I think you have it backward. Inflation hurt the wealthy as much as it hurt the poor.
In fact, I would argue inflation hurt them more as labor cost needs to adjust upward. Asset price appreciation will only mean higher tax.
June 01, 2014, 10:38:06 PM
More interesting data:
If we continue with FRB and QE, what do you think will happen to the top 10% versus the bottom 1%?!?
If we continued to INFLATE asset prices - why would the top 1% need to work at all?!? The answer is: they don't! They can sit on their assets and "manage". Wake up people! This is an absolute travesty and it's disgusting.
Quote
Distribution of Wealth Across Individuals: Inequality Remains High
To determine how global wealth is distributed across households and individuals – rather than regions or countries – we combine our data on the level of household wealth across countries with information on the pattern of wealth distribution within countries. Our estimates for mid-2013 indicate that once debts have been subtracted, an adult requires just 4,000 US dollars in assets to be in the wealthiest half of world citizens. However, a person needs at least 75,000 US dollars to be a member of the top 10 percent of global wealth holders, and 753,000 US dollars to belong to the top 1 percent. Taken together, the bottom half of the global population own less than 1 percent of total wealth. In sharp contrast, the richest 10 percent hold 86 percent of the world’s wealth, and the top 1 percent alone account for 46 percent of global assets.
To determine how global wealth is distributed across households and individuals – rather than regions or countries – we combine our data on the level of household wealth across countries with information on the pattern of wealth distribution within countries. Our estimates for mid-2013 indicate that once debts have been subtracted, an adult requires just 4,000 US dollars in assets to be in the wealthiest half of world citizens. However, a person needs at least 75,000 US dollars to be a member of the top 10 percent of global wealth holders, and 753,000 US dollars to belong to the top 1 percent. Taken together, the bottom half of the global population own less than 1 percent of total wealth. In sharp contrast, the richest 10 percent hold 86 percent of the world’s wealth, and the top 1 percent alone account for 46 percent of global assets.
If we continue with FRB and QE, what do you think will happen to the top 10% versus the bottom 1%?!?
If we continued to INFLATE asset prices - why would the top 1% need to work at all?!? The answer is: they don't! They can sit on their assets and "manage". Wake up people! This is an absolute travesty and it's disgusting.
June 01, 2014, 06:25:39 AM
"Always do the right thang" - that's the only words from old Spike Lee movie I follow. And now matter who and how is becoming rich and how hard are you trying.
June 01, 2014, 04:41:06 AM
Yup it's all luck, you sir are all correct. 85 people in this world have more wealth than 3.5 billion people, are just 'lucky'. If you're in the backwater of Africa and Asia, all you need to do is pull up your bootstraps (oh wait can't afford said boots) and then encounter "luck". 
If you look closely, many of those 85 people in the list built their wealth themselves. I am not talking about the Arab Sheikhs who got rich by selling gas and oil, but about people like Sergey Brin and Mark Zuckerberg. They started from scratch, and made themselves rich.
June 01, 2014, 02:50:18 AM
Yup it's all luck, you sir are all correct. 85 people in this world have more wealth than 3.5 billion people, are just 'lucky'. If you're in the backwater of Africa and Asia, all you need to do is pull up your bootstraps (oh wait can't afford said boots) and then encounter "luck".
If you look closely, many of those 85 people in the list built their wealth themselves. I am not talking about the Arab Sheikhs who got rich by selling gas and oil, but about people like Sergey Brin and Mark Zuckerberg. They started from scratch, and made themselves rich.
June 01, 2014, 02:44:21 AM
A lot of things have to be right for someone to be able to get to the top.
June 01, 2014, 02:12:45 AM
We should do things necessary to let the "luck" run out, instead of letting it grow and grow and grow and ... well, you know what i mean.
June 01, 2014, 02:05:25 AM
There are economic gaps everywhere, and it's not because of a rigged system. It's somewhat because of luck.
Yup it's all luck, you sir are all correct. 85 people in this world have more wealth than 3.5 billion people, are just 'lucky'. If you're in the backwater of Africa and Asia, all you need to do is pull up your bootstraps (oh wait can't afford said boots) and then encounter "luck".
Being born in the right place and being at the right time is considered luck.
May 31, 2014, 11:00:25 PM
There are economic gaps everywhere, and it's not because of a rigged system. It's somewhat because of luck.
Yup it's all luck, you sir are all correct. 85 people in this world have more wealth than 3.5 billion people, are just 'lucky'. If you're in the backwater of Africa and Asia, all you need to do is pull up your bootstraps (oh wait can't afford said boots) and then encounter "luck".
May 31, 2014, 09:33:35 PM
There are economic gaps everywhere, and it's not because of a rigged system. It's somewhat because of luck.
If you make such a statement, you tend to have to provide this thing called evidence. LOL. For those that just joined us, please read page one. Jump to: